If you’ve decided to make blogging your online home based business theme and you’ve created your website you will now want to start making money as soon as possible and the best way to accomplish this goal is by monetizing your blog. According to Google, “to monetize means to convert something to money.
In Internet marketing terms monetize refers to finding a way to generate income from items posted on the Web. Web sites are usually monetized by either selling ad space or by creating a related product line, such as T-shirts with slogans.”
Here are 3 very lucrative strategies you can employ to monetize your home business blog:
1. After you’ve created a steady flow of traffic to your blog on a daily basis you now can entertain the idea of selling advertising space on your website to private sponsors. This strategy can result in a steady and dependable income stream for your home business. This technique involves you, as the webmaster, approaching advertisers who will pay a fee for the privilege of placing banners or text links on your blog.
There are several approaches you can take when charging your customers. Instead of charging by click or by lead you can charge a monthly fee. This cuts down on the work for you of having to audit the number of clicks or leads per month for each advertiser and then having to bill each one individually.
The main objective here is to work smarter not harder. If this method doesn’t appeal to you there is always the idea of selling subscriptions. Subscriptions carry the added benefit of not having to track down delinquent clients every month because the recurring payments will be made directly to your Paypal account.
Of course it’s always easier to attract advertisers when you have a high page ranking with the major search engines and you have a high number of vistors to your site on a daily basis. Having a great reputation as a knowledgeable blogger online is also a big help when you’re trying to attract business.
2. Becoming an affiliate marketer and promoting other people’s products from your blog is another excellent monetization strategy. Research the highest selling and most popular niches on the web and find a well established and successful affiliate program to join and promote.
Finding affiliate products which are sold on a monthly subscription basis is a great way to set up a recurring income stream from your home business blog because each time a monthly payment is made you will collect another commission.
Affiliate marketing offers many other advantages including not having to create your own product to promote, not having to maintain an inventory of goods, not being responsible for shipping and handling of products and being only concerned with driving traffic to your home business blog and your affiliate products.
3. Google’s adsense is a very easy monetization strategy to implement and can be very profitable if employed correctly. Adsense is an advertising program whereby Google pays you for displaying targeted Google ads on your blog and each time a visitor to your website views or clicks through an ad you get paid. You specify where you want ads to appear and you choose what types of ads can compete for those positions.
A major benefit of adsense, in combination with its simplicity, is you can access Google’s vast advertiser pool without having to maintain individual relationships with each sponsor. One key to success when using adsense is to select ads which are tailored to your home business blog but aren’t in direct competition with your affiliate goods.
When starting out online with your blog and your home based business using these 3 monetization strategies in combination with quality content which is updated on a regular basis will help you profit from your enterprise sooner rather than later.